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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Wednesday, November 25, 2:32 AM

Slide #62. Arlington Asset Investment Corp. Preferred Stock Offering

Company: Arlington Asset Investment Corp. (AI)
Date announced: 3/5/2019
Shares Offered: 1,200,000
Date of Pricing: 3/5/2019
Price Per Share: $25.00
Preferred Stock Offering Details: Arlington Asset Investment Corp. (NYSE: AI) (the "Company") announced today that it has priced an underwritten registered public offering of 1,200,000 shares of its 8.250% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of $30.0 million, before deducting underwriting discounts and other estimated offering expenses. The offering is expected to close on March 12, 2019, subject to customary closing conditions. The Company intends to apply to list the Series C Preferred Stock on the New York Stock Exchange under the symbol "AI PrC." The Company has granted the underwriters an option for 30 days to purchase up to an additional 180,000 shares of the Series C Preferred Stock to cover over-allotments, if any.

Arlington Asset Investment is an investment firm that focuses on acquiring and holding a levered portfolio of mortgage investments. Co.'s mortgage investments generally consist of agency mortgage-backed securities (MBS) and mortgage credit investments. Co.'s agency MBS consist of residential mortgage pass-through certificates for which the principal and interest payments are guaranteed by either a United States government sponsored enterprise, or by a United States government agency. Co.'s mortgage credit investments may include investments in mortgage loans secured by either residential or commercial real property or MBS collateralized by such mortgage loans.

Preferreds: AI.PRB, AI.PRC

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Name:  Arlington Asset Investment Corp
Sector:  REITs

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